Obama Says Government Is The Only Saviour For Economy
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Well, private sector, consider yourselves rendered impotent: you can’t be the engine you have always been for the U. S. economy. True to the liberal playbook, Barack Obama said today that the private sector, typically the genesis, cannot do what is needed now to stop our economic freefall.
“At this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe, and break the cycles that ail our economy, where an inablilty to lend and borrow keeps us in an economic spiral.”
Obama warned that although he doesn’t believe it’s too late for the economy to change course, it will be if we don’t change course. More people will lose their jobs, their homes, will struggle to eat, and it is only going to get worse unless we rush through another astronomical spending package. He wants Congress to get to work, bitches, and pass this sucker fast, because more of the same insane monetary moves are the only thing that will save us.
Obama made his biggest pitch yet for passage of his upcoming “American Recovery And Reinvestment Plan”, which he says is the only cure for what ails our economy. He was speaking a day after the release of a stunning new estimate – that the federal budget deficit will reach an unprecedented $1.2 trillion this year, nearly three times last year’s record.
Obama acknowledged some “might be skeptical” of the stimulus, and said the amounts spent already were “considerable”. What an understatment! Vast sums already have been spent or committed by Washington in an attempt…unsuccessful so far, to get credit, the lifeblood of the American economy, flowing freely once again.
About $270 billion of the original $700 billion dollar TARP bailout has already been spent. We’ve REALLY already spent trillions, and our financial institutions have used the money solely to pretty-up their own balance-sheets. They aren’t going to start lending in THIS environment, period. They don’t have to.
Obama’s trying to appeal to fiscal conservatives in both parties who’ve become more vocal against throwing more money at our problems. Remember, however, that most of them had no problem with the $700 billion original bailout. Barry wants to be sure he wins them over, so that approval of a package draws wide, bipartisan support in the Democratic-led Congress.
Barry promised to allow funding ONLY for what works. He also pledged a new level of transparency about where the money is going, saying that we the people will be able to track government spending on the web. Sorry, but…HAHAHAHAHAHA!!!! Obama’s counting on “we the people” acting like “we the sheeple”, who will take whatever our government tells us at face value. Obamaspeak translation: as there hasn’t BEEN any transparency, we’ll post some stuff that makes us look good and call it transparency.
Obama promised action to address the economy’s ills beyond the package, such as tackling a potential wave of home foreclosures, preventing the failure of financial institutions, rewriting financial regulations and keeping accountable the “Wall Street wrongdoers” who engage in risky investing. Isn’t this what we were told the FIRST bailout was for?
His remarks shed no new light on the details of his plan. And, he said little about the unprecedented red ink and rising debt confronting the government, even after spending days reassuring the public and Congress that he is committed to tackling long-term deficits AFTER the economy rebounds. Which is going to take a hell of a lot longer than it should, as the lessons of F.D.R. and the Great Depression make clear. Do you think the United States Government is going to save us by spending money it does not have on infrastructure? Why did the Soviet Union ever go broke? All they had to do is print money and build infrastructure it should have been utopia…so they believed.
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January 13th, 2009 at 1:49 am
Obama is right to an extent. The government can help in this recession…Veto any laws that restrict drilling on lands that produce fuel. Instead, the Democrats are putting those lands in protective status…cut the fat on wasted jobs in Government. Take back the pay raises our government officials voted themselves. Stop using overpriced union labor when you can get the jobs done cheaper, quicker and proficient with workers that actually want to work. All the smart and efficient workers don’t all belong to unions. Make alternative energy sources cheaper and affordable. The incentive program would have saved me about $2,000. The cost to me to do my house? About $35,000+. REDUCE TAXES! Stop bailing out BIG BUSINESS that fail. Take care of the small businesses that people want and can afford. Take care of the Working Middle Class that have been paying more than their fair share of taxes. Eliminate the welfare program as is…Design a welfare program for people that actually need it. Listen to the people you are supposed to represent, instead of lobbyists and the privileged, when it comes to spending the peoples tax dollars. Our elected officials are supposed to be an extension of our voices, not a replacement! We need people in our government that are there for the people, not because they are being returned a favor!